The impression is gained that Ascendis is focussed on its acquisition strategy and the only meaningful reporting appears to relate to the incentivising and remuneration of the leadership for meeting business strategic targets.

Given that Ascendis has only recently listed on the JSE and is still building its business, it is following a pattern noted by FarSight of doing first and putting in the reporting foundations later. However, Ascendis is taking on significant ESG risks as it continues to grow fast (acquiring further businesses in Romania and Cyprus in 2017), and thus cannot be excused from reporting on its response to material issues.

See the executive summary for a more complete overview of FarSight’s analysis for Ascendis. Buy our full report for detailed analysis and supporting discussion.